[Alpha Biz= Paul Lee] A large embezzlement case has occurred at Shinhan Bank, where an employee has fraudulently approved loans by forging documents over a three-year period.


According to financial industry sources on Friday, Shinhan Bank recently became aware that an employee responsible for corporate finance had embezzled funds and has been conducting an internal audit.


The employee, who worked on export-import trade account-related tasks at branches including the Apgujeong Station Financial Center from December 2021 to July 2024, embezzled a total of 1.7 billion KRW. The employee repeatedly took out loans under the names of companies the bank had transactions with, using forged documents.


A Shinhan Bank official stated, "We have already reported the matter to the police and will confirm the exact amount of embezzlement."


Last month, Shinhan Bank also disclosed an external fraud incident amounting to around 2 billion KRW. This marks the second financial incident to occur at the bank this year.

 

 

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